What Is Section 202 Housing

You apply for a section 202 apartment by submitting an application to the property rsquo s management company or.

What is section 202 housing. Program participants pay 30 of their net income for rent. Program regulations are found 24 cfr part 891. The section 202 program provides capital advances and operating subsidies to facilitate the creation of multifamily housing for very low income elderly persons more.

Program participants pay 30 of their net income for rent. More information about the section 202 program can be found in hud handbooks 4571 3 supportive housing for the elderly and 4571 5 supportive housing. For more information contact your local hud multifamily office.

These properties are owned by private management companies or an individual private owner often nonprofit organizations. These communities are owned by private management companies or an individual private owner. Section 202 supportive housing for the elderly program the federal section 202 supportive housing for the elderly program provides housing with supportive services and rental assistance for low income elderly including elderly with disabilities buildings funded before 1991 may accept disabled adults 18 years of age.

The section 202 supportive housing for the elderly program provides subsidized affordable apartment communities for elderly persons. Supportive housing for the elderly is a housing and urban development hud program that provides capital advances to private nonprofit sponsors to finance the development of housing for elderly residents. Apartments at these properties have rental assistance attached to them so that program participants pay 30.

The section 202 supportive housing for the elderly program is the only federally funded housing program designed specifically for older persons. Prior to 1991 the. Section 202 senior housing vouchers and subsidized rent assistance.

Established in the housing act of 1959 section 202. You apply for a section 202 apartment by submitting an application to the property rsquo s management company or. The section 202 history and regulatory context module reviews the history of the section 202 program and the various ways it has supported the development of affordable elderly housing since its inception it includes information on regulations governing refinancing and subordination.